By Dhirendra Tripathi
Investing.com — On Thursday stocks surged, boosted by the technology sector as well as better-than-expected results from large companies such Bank of America (NYSE) and Walgreens Boots Alliance.
Three large banks Citigroup Inc, (NYSE:).BofA. Morgan Stanley After reserving money last year to cover large loans losses, (NYSE:) exceeded expectations. They also saw a boom season in investment banking, which helped to boost their performance.
Walgreens Boots Alliance Inc NASDAQ: also surged after exceeding expectations. The company announced that it will buy more shares of VillageMD in order to grow its primary care service.
Quarterly earnings are forecast to rise compared with last year. Analysts are also looking for comments from CEOs on increasing costs, labor shortages and supply chain issues. Positive news is that the number of jobless claims dropped last week to its lowest point in 19 months.
Also, September saw a decrease in producer prices.
Friday’s big number will be retail sales. These are the three factors that will impact markets tomorrow.
1. Earnings at Goldman Sachs
Goldman Sachs Group According to Investing.com analysts, Inc (NYSE:), is likely to report a third quarter profit per share at $10.11 on $11.72 billion in revenue.
The U.S. is expected to see a 0.2% decrease in September versus August’s 0.7% growth. These data will be available at 8:30 AM ET (1330 GMT).
3. Consumer sentiment
The preliminary reading of the U.S. for October, as reflected in the University of Michigan’s Consumer Sentiment Index, is seen improving to 73.1 from September’s final reading of 72.8. At 10:00 ET, this report will be made public.
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